305 E North St · Mulberry Grove, IL 62262

$120,000

1 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 42 Days on market

Built 2004 0.50 ac lot $100/sqft · at area comps Est $125k · at est.

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +9.8/30.0
• ARV discount +9.2/15.0
• Appreciation +6.6/10.0
• 1% rule +3.4/10.0
• Livability +2.9/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Are you looking for quiet, peaceful living in a maintenance free home? Look no further. This former pole barn has been converted into a cute and cozy one bedroom, one bath home. A two-car garage has plenty of space for working on projects or storage. The eat-in kitchen is large with plenty of cabinet and counter space. All kitchen and laundry appliances stay. Propane tank and freezer do not convey.

Key facts

• 0.5 acre lot
• 2 garage spots
• Built 2004

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA details provided

Exterior

• Parking: 2-car garage
• Security: No security details provided
• Utilities: Public water; Public sewer; Electric service (other); Leased propane
• Home design: Single-family residence; One level
• Construction: Aluminum siding; Built-year not provided
• Exterior features: Waterfront lot

Interior

• Kitchen: No appliance details provided
• Bedrooms: 1 bedroom on the main level
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (propane); Central electric air conditioning
• Interior features: 6 total rooms
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-76 ($-911/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (15.8% below list).
• Recommended offer: $101k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#1,127 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Mulberry Grove CUSD 1 (rural): math 16% / reading 21% proficiency, ranked #732 of 919 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mulberry Grove Elem School (math 17% / reading 27%, grade F, #940 of 2,056 statewide, top 49%, 165 students, 0% FRL); Mulberry Grove Jr High School (math 8% / reading 22%, grade F, #510 of 665 statewide, top 78%, 78 students, 0% FRL); Mulberry Grove Sr High School (math 10% / reading 10%, grade F, #528 of 693 statewide, top 82%, 111 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 7 active listings in the ZIP; 35 units permitted in Bond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($830 loan paydown + $4k appreciation (3.1% local appreciation)).
• Bond County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $101,096 (15.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• GRM: 9.9

CMA / ARV

• ARV (median comp): $124,772
• List price: $120,000
• Delta: -3.82%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 N Church St	0.04mi	2/1.0 (+1)	1,121 (-7%)	8mo	$85,000	$76	75
407 N Wood	0.10mi	2/2.0 (+1)	1,085 (-10%)	7mo	$140,000	$129	65
1894 Old Park Ave	0.61mi	2/1.0 (+1)	1,220 (+2%)	22mo	$230,000	$189	45
303 E South St	0.55mi	2/1.0 (+1)	1,080 (-10%)	10mo	$118,500	$110	45
103 S 4th St	0.48mi	2/2.0 (+1)	1,056 (-12%)	21mo	$44,500	$42	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.31×
• Total profit: $10,548
• Equity at exit: $54,900

10-year hold

• IRR: 8.4%
• Equity multiple: 2.29×
• Total profit: $43,314
• Equity at exit: $85,347

Cash invested: $33,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62262

• Home prices YoY: 2.4%
• Active inventory: 7
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $-76

Break-even live

Break-even rent $1,107

Max offer price $106,585

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-42	+0% $-76	+5% $-110	+10% $-144
Rent	-10% $-156	-5% $-116	+0% $-76	+5% $-36	+10% $4
Rate	-1.0pp $-16	-0.5pp $-45	base $-76	+0.5pp $-107	+1.0pp $-139

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-08
   days on market $120,000 Active 42 DOM
2. 2026-06-07
   days on market $120,000 Active 41 DOM
3. 2026-06-04
   days on market $120,000 Active 37 DOM
4. 2026-06-02
   days on market $120,000 Active 36 DOM
5. 2026-06-01
   days on market $120,000 Active 35 DOM
6. 2026-05-31
   days on market $120,000 Active 34 DOM
7. 2026-05-31
   days on market $120,000 Active 33 DOM
8. 2026-04-27
   listed $120,000 Active 930-char remark
9. 2026-04-27
   historical $120,000 930-char remark
10. 2023-10-31
    soldstatus Closed 408-char remark

    Show marketing remark (408 chars)

    Are you looking for quiet, peaceful living in a maintenance free home? Look no further. This former pole barn has been converted into a cute and cozy one bedroom, one bath home. A two-car garage has plenty of space for working on projects or storage. The eat-in kitchen is large with plenty of cabinet and counter space. All kitchen and laundry appliances stay. Propane tank and freezer do not convey.

11. 2023-10-31
    soldstatus $112,000

    Show marketing remark (408 chars)

    Are you looking for quiet, peaceful living in a maintenance free home? Look no further. This former pole barn has been converted into a cute and cozy one bedroom, one bath home. A two-car garage has plenty of space for working on projects or storage. The eat-in kitchen is large with plenty of cabinet and counter space. All kitchen and laundry appliances stay. Propane tank and freezer do not convey.

12. 2023-09-19
    status Pending 408-char remark

    Show marketing remark (408 chars)

    Are you looking for quiet, peaceful living in a maintenance free home? Look no further. This former pole barn has been converted into a cute and cozy one bedroom, one bath home. A two-car garage has plenty of space for working on projects or storage. The eat-in kitchen is large with plenty of cabinet and counter space. All kitchen and laundry appliances stay. Propane tank and freezer do not convey.

13. 2023-09-06
    listed $109,900 Active 408-char remark

    Show marketing remark (408 chars)

    Are you looking for quiet, peaceful living in a maintenance free home? Look no further. This former pole barn has been converted into a cute and cozy one bedroom, one bath home. A two-car garage has plenty of space for working on projects or storage. The eat-in kitchen is large with plenty of cabinet and counter space. All kitchen and laundry appliances stay. Propane tank and freezer do not convey.

14. 2023-08-28
    historical $109,900 408-char remark

    Show marketing remark (408 chars)

    Are you looking for quiet, peaceful living in a maintenance free home? Look no further. This former pole barn has been converted into a cute and cozy one bedroom, one bath home. A two-car garage has plenty of space for working on projects or storage. The eat-in kitchen is large with plenty of cabinet and counter space. All kitchen and laundry appliances stay. Propane tank and freezer do not convey.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $2,344 · $195/mo
• Projected year-2 tax: $2,534 · $211/mo
• Expected delta: +$190/yr (+$16/mo · 8.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,132
• − Mortgage interest: −$6,722
• − Property taxes: −$2,344
• − Insurance: −$600
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$3,491
• Taxable loss: −$2,966
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $-199/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mulberry Grove CUSD 1
• NCES district ID: 1727450
• Math proficiency: 16% ▼ -7.00%
• Reading proficiency: 21% ▼ -5.00%
• Median HH income: $43,252
• Composite: 19.32/100
• National rank: #13954
• State rank: #732 of 919 in IL

Livability — Mulberry Grove

• Score: 58/100
• State rank: #1127
• US rank: #21267

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mulberry Grove, IL
• Population (ZIP): 1,887

Population outlook (Bond County) Hauer SSP2

• Today (2025): 15,651 people
• By 2030: 15,008 · -4.1%
• By 2040: 13,490 · -13.8%
• By 2050: 12,002 · -23.3%
• By 2075: 9,019 · -42.4%
• By 2100: 6,539 · -58.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Black 4%
• Common ancestry: Lithuanian 4% Iranian 3% Slovak 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Bond

• 2024 margin: Solid R (+44.8) · D 26.5% · R 71.3% · Other 2.2%
• 2008→2024 swing: -43.5pp toward R · 2008: -1.3pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+41.0 2016: R+37.8 2012: R+14.7 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.14%
• Current HPI: 133.1925
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+9.2% since first listed

7 events — show timeline

• 2026-04-27 Listed $120,000 MARIS as Distributed by MLS Grid
• 2026-04-27 Coming Soon — MARIS as Distributed by MLS Grid
• 2023-10-31 Sold (Public Records) $112,000 Public Records
• 2023-10-31 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-09-19 Pending — MARIS as Distributed by MLS Grid
• 2023-09-06 Listed $109,900 MARIS as Distributed by MLS Grid
• 2023-08-28 Coming Soon $109,900 MARIS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2024): $2,344 · +244.8% YoY. Source: county tax records.